African Life - Results Of The Award Of Capitalisat
TO ELECT TO RECEIVE THE FINAL CASH DIVIDEND IN LIEU THEREOF
AFRICAN LIFE ASSURANCE COMPANY LIMITED
(Incorporated in the Republic of South Africa)
("the Company" or "African Life")
(Registration number 1911/003818/06)
RESULTS OF THE AWARD OF CAPITALISATION SHARES AND THE OFFER TO ELECT TO
RECEIVE THE FINAL CASH DIVIDEND IN LIEU THEREOF
Further to the notice published in the press on 12 June 2001 regarding the
award of capitalisation shares and the offer to elect to receive the final
dividend of 30 cents per share in lieu thereof ("the capitalisation award"),
the directors of African Life are pleased to announce the results of the
capitalisation award.
The award of capitalisation shares was made on the basis 2,31420 shares for
every 100 shares held at the close of business on Friday, 29 June 2001.
This basis was derived from the ratio that 30 cents multiplied by 1,05 bears
to the weighted average traded price of the Company's shares on the JSE
Securities Exchange South Africa ("the JSE") during the three-day period
ended on Thursday, 26 July 2001 of 1 361 cents per share.
Shareholders holding 23% of the Company's issued share capital elected to
receive the cash dividend. The cash dividend is thus payable on 27 308 804
shares and amounts to R8 192 641,20.
Shareholders holding 77% of the Company's issued share capital have been
allotted
2 063 639 shares in terms of the capitalisation share award ("capitalisation
shares"). Following the issue of the capitalisation shares, the issued share
capital of the Company will consist of 118 545 364 ordinary shares of 10
cents each.
Listing of the capitalisation shares
The 2 063 639 shares issued in terms of the capitalisation share award will
be listed on the JSE with effect from the commencement of business on
Thursday, 2 August 2001.
Share certificates, dividend and fraction cheques
Share certificates, dividend and fraction cheques will be posted to
shareholders on Thursday, 2 August 2001 at their own risk.
Johannesburg
31 July 2001
Sponsor
Deutsche Securities (SA) (Proprietary) Ltd
Member of the Deutsche Bank Group
Registration number: 1995/011798/07
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